2024-01-25T09:36:54-06:00 2022-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2022-01-01 222636406 MASSACHUSETTS BIOMEDICAL INITIATIVES INC MASS 5087974200 17 BRIDEN STREET WORCESTER MA 01605 JON WEAVER PRESIDENT & CEO 5089176471 2024-01-22 1 JON WEAVER 999009999 0 BARBARA E KING P00005629 5087557107 2024-01-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JON WEAVER 17 BRIDEN STREET WORCESTER MA 01605 4770955 0 X WWW.MASSBIOMED.ORG X 1984 MA MASSACHUSETTS BIOMEDICAL INITIATIVES (MBI) IS DEDICATED TO JOB CREATION AND INNOVATIVE HEALTHCARE THROUGHOUT MASSACHUSETTS BY PROMOTING THE GROWTH OF START-UP BIOMEDICAL COMPANIES. MBI IS COMMITTED TO COLLABORATING WITH THE ACADEMIC, BUSINESS AND GOVERNMENT COMMUNITIES TO PROMOTE MASSACHUSETTS AS THE WORLD LEADER IN THE LIFE & HEALTH SCIENCES INDUSTRY. 17 16 6 0 1192 0 953728 1953075 1998725 2477782 1325592 263138 57213 56853 4335258 4750848 281250 218750 0 0 664731 872633 0 0 16301 1919559 2322013 2865540 3413396 1469718 1337452 18513088 23711563 671861 6820626 17841227 16890937 X MBI IS A PRIVATE, INDEPENDENT ORGANIZATION HELPING EMERGING LIFE SCIENCES COMPANIES ADVANCE FROM CONCEPT TO CLINICAL TRIALS. MBI'S MISSION IS TO BE A PARTNER FOR FOSTERING INNOVATION IN THE LIFE SCIENCES BY FACILITATING ACCESS TO EARLY-STAGE TECHNOLOGIES AND WORKFORCE DEVELOPMENT SUPPORT HELPING COMPANIES BRING LIFESAVING PRODUCTS TO PATIENTS, CREATE JOBS, AND PROMOTE ECONOMIC DEVELOPMENT TO CREATE A SUSTAINABLE ECOSYSTEM IN MASSACHUSETTS. 0 0 2809541 218750 2534635 MBI PROVIDES COMPANY INCUBATION SERVICES FOR BIOMEDICAL COMPANIES INCLUDING BIOTECHNOLOGY, MEDICAL DEVICE, AND BIOINFORMATICS. MBI PROVIDES FLEXIBLE LABORATORY SPACES, SHARED EQUIPMENT, HEALTH AND SAFETY SERVICES, AND BUSINESS SUPPORT TO HELP STARTUP COMPANIES EXPAND, CREATE JOBS, AND EXPAND THE TAX BASE.MBI OPERATES THREE INCUBATOR LOCATIONS WITHIN WORCESTER, MA TOTALING 50,000 SF.MBI IS ALSO INVOLVED IN AREA ECONOMIC DEVELOPMENT INCLUDING SUPPORTING THE DEVELOPMENT OF GATEWAY PARK, A MIXED-USE PARK FOCUSING ON THE LIFE SCIENCE INDUSTRY AND MORE RECENTLY THE DEVELOPMENT OF THE WORCESTER BIOMANUFACTURING PARK, A BUSINESS PARK FOCUSED ON SUPPORTING THE GROWTH OF THE ADVANCED MANUFACTURING CLUSTER IN WORCESTER, MA. 2809541 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 6 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X JON WEAVER 5089176471 17 BRIDEN STREET WORCESTER MA 01605 ABRAHAM W HADDAD DMD FACD VICE CHAIRMAN 2.00 X 0 0 0 ROBERT J ANDERSON CPA CHAIRMAN 2.00 X X 0 0 0 GAIL E RADCLIFFE PHD TRUSTEE 2.00 X 0 0 0 JON WEAVER PRESIDENT & CEO 37.50 X X 255500 0 37210 LINDA MCGOLDRICK TRUSTEE 2.00 X 0 0 0 ALLAN GUO TRUSTEE 2.00 X 0 0 0 CHUCK KUNSCH CLERK 2.00 X X 0 0 0 TIMOTHY M JARRYCFACPA TREASURER 2.00 X X 0 0 0 LIZABETH LEVEILLE TRUSTEE 2.00 X 0 0 0 TRAVIS MCCREADY TRUSTEE 2.00 X 0 0 0 SHOBA PARTHASARATHI TRUSTEE 2.00 X 0 0 0 PAUL WENGENDER TRUSTEE 2.00 X 0 0 0 CHRISTOPHER M PALATUCCI PHD TRUSTEE 2.00 X 0 0 0 PHILIP R MORGAN VICE CHAIRMAN 2.00 X X 0 0 0 D DAVIDSON EASSON JR TRUSTEE 2.00 X 0 0 0 DAVID R GRENON TRUSTEE EMERITUS 2.00 X 0 0 0 W BLAINE STINE PHD TRUSTEE 2.00 X 0 0 0 IMRAN NASRULLAH TRUSTEE 2.00 X 0 0 0 ZU SHEN VICE PRESIDENT 37.50 X 189500 0 30890 445000 0 68100 2 0 1 0 0 1953075 1953075 INNOVATION CENTER 541900 2261987 2261987 TECHNOLOGY CENTER 541900 215795 215795 2477782 261946 261946 21299 20107 1192 1192 1192 OTHER INCOME 541700 56853 56853 56853 4750848 2534635 1192 261946 218750 218750 413096 318145 82619 12332 247057 171292 75765 166019 123086 39832 3101 46461 34446 11147 868 9890 9890 13500 13500 21299 21299 30789 702 30087 42654 15085 27569 7979 7979 779597 779597 134278 134278 641432 641432 50094 50094 MISC EXPENSES 224546 154206 70340 REPAIR & MAINTENANCE 117141 117141 BAD DEBT EXPENSES 69963 69963 SAFETY 63962 63962 114889 113624 1265 3413396 2809541 587554 16301 323941 960276 3194073 1565754 125000 125000 23267 68900 53664 38205 15298899 2869553 4717497 12429346 10075646 8021182 0 502900 18513088 23711563 7166 32077 70992 70824 5616541 593703 1101184 671861 6820626 X 17841227 16890937 17841227 16890937 18513088 23711563 1337452 -2287742 0 X 0 1 X 0 0 X 249462 1036349 3936407 953729 1953075 8129022 249462 1036349 3936407 953729 1953075 8129022 4581798 3547224 506008 492241 478503 736905 261946 2475603 2765 5305 26381 59363 56853 150667 10755292 7666588 0.32980 0.31220 X MASSACHUSETTS BIOMEDICAL INITIATIVES, INC. IS A PRIVATE, INDEPENDENT ECONOMIC DEVELOPMENT ORGANIZATION THAT SERVES AS A CATALYST FOR LIFE SCIENCE AND HEALTHCARE INNOVATION. THE ORGANIZATION HELPS START BIOMEDICAL COMPANIES AND CREATE JOBS WITHIN THE BIOTECHNOLOGY, MEDICAL DEVICE, INFORMATICS, AND BIOMANUFACTURING INDUSTRY BY PROVIDING SECURE, CLEAN BENCH AND SINK SURFACE, STAFF TRAINED AND FULLY LICENSED LABORATORY SPACE FOR USAGE BY "SEED STAGE" COMPANIES. BUILDING AND MAINTAINING COLLABORATIVE AFFILIATIONS AND PARTNERSHIPS ARE ESSENTIAL TO OUR SUCCESS. THE ORGANIZATION NORMALLY MEETS THE 33 1/3 PUBLIC SUPPORT TEST. THERE ARE APPROXIMATELY 22 TRUSTEES OF THE ORGANIZATION CONSISTING OF LOCAL PROFESSIONALS, CIVIC AND COMMUNITY LEADERS. DURING THE YEAR ENDED DECEMBER 31, 2020, THE ORGANIZATION RECEIVED A GRANT FOR CAPITAL IMPROVEMENTS OF APPROXIMATELY $3 MILLION. 1169769 1169769 12669051 2518913 10150138 557542 325028 232514 902537 25612 876925 12429346 RENTAL DEPOSITS 96092 RECOVERABLE GRANT 500000 OPERATING LEASE LIABILITIES 505092 1101184 2441807 -2287742 -2287742 4729549 21299 21299 4750848 3392097 0 3392097 21299 21299 3413396 PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 1 QUINSIGAMOND COMMUNITY COLLEGE 670 W BOYLSTON ST WORCESTER MA 01606 042897624 501(C)(3) 96875 0 STEM PROGRAM WORCESTER STATE UNIVERSITY 486 CHANDLER STREET WORCESTER MA 01602 042760551 501(C)(3) 46875 0 STEM PROGRAM GLOUCESTER MARINE GENOMICS INSTITUTE 417 MAIN STREET GLOUCESTER MA 01930 463020006 501(C)(3) 25000 0 BIOMANUFACTURING TECHNICIAN APPRENTICESHIP GIRLS INCORPORATED OF WORCESTER 125 PROVIDENCE STREET WORCESTER MA 01604 042123666 501(C)(3) 25000 0 BIOMANUFACTURING TECHNICIAN APPRENTICESHIP MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION 255 MAIN STREET CAMBRIDGE MA 02142 223799632 501(C)(3) 25000 0 BIOMANUFACTURING TECHNICIAN APPRENTICESHIP X 0 0 0 1 0 0 0 0 0 JON WEAVER PRESIDENT & CEO 255500 0 0 0 0 0 15330 0 21880 0 292710 0 0 0 ZU SHEN VICE PRESIDENT 189500 0 0 0 0 0 9010 0 21880 0 220390 0 0 0 PART I, LINE 5 THERE IS DISCRETIONARY BONUS RECOMMENDED AND APPROVED BY THE BOARD FOR THE PRESIDENT BASED ON THE ORGANIZATION'S OVERALL PERFORMANCE FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PRESENTED TO THE ORGANIZATION'S BOARD OF DIRECTORS AND REVIEWED BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD MUST FILL OUT A CONFLICT OF INTEREST FORM WHEN THEY JOIN THE BOARD AND ITS UPDATED YEARLY. FORM 990, PART VI, SECTION B, LINE 15A MEMBERS OF THE BOARD OF TRUSTEES CAN NOMINATE CANDIDATES FOR A VOTE TO REJECT OR ACCEPT THE CANDIDATE. SHOULD NO CANDIDATES BE NOMINATED AND ACCEPTED, THE BOARD WILL FORM A SUB-COMMITTEE TO FIND A NEW CHIEF EXECUTIVE. THE SUB-COMMITTEE MAY EMPLOY A SEARCH CONSULTANT TO ASSIST WITH A BROAD SEARCH. INTERVIEWS WOULD BE CONDUCTED BY THE SUB-COMMITTEE. THE SUB-COMMITTEE THEN RECOMMENDS A CANDIDATE TO THE FULL BOARD OF TRUSTEES WHO VOTES TO REJECT OR ACCEPT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANZIATION'S FORM 990 IS FILED WITH THE PUBLIC CHARITIES REPORT.